The new deal will keep Banega at Valencia until the summer of 2015.
“(He) is one of the great talents in Spanish football,” said Valencia president Manuel Llorente.
“He is a young player and is growing and maturing day by day and we are convinced that he will become an even more important player for us in the future.”
“I am very pleased to extend my contract at Valencia,” Banega told the club’s official website. “Now I want to continue to play well and improve in this team.”
